26 Jun 2014
EUR/USD eases to 1.3610
FXStreet (Edinburgh) - The shared currency is now losing some steam, with the EUR/USD coming down from session peaks beyond 1.3640 to a test of the 1.3610 area.
EUR/USD consolidates above 1.3600
Despite the current softer tone around the EUR, spot is looking to consolidate the trade above the 1.3600 handle, as markets wait for the US data releases due today – PCE and initial Claims – and speeches by Fed’s Lacker and Bullard. “We expect EUR/USD to remain in the vicinity of 1.36 on a 1 to 3 mth view and end the year around 1.35. On a 12 mth view we continue to forecast a move to 1.30 but this assumes confirmation of a strengthening in US growth and inflation data”.
EUR/USD levels to consider
As of writing the pair is losing 0.07% at 1.3618 and a breach of 1.3583 (low Jun.24) would target 1.3574 (low Jun.23) en route to 1.3565 (low Jun.20). On the flip side, the initial hurdle lines up at 1.3651 (high Jun.25) followed by 1.3669 (high Jun.9) and finally 1.3672 (200-d MA).
EUR/USD consolidates above 1.3600
Despite the current softer tone around the EUR, spot is looking to consolidate the trade above the 1.3600 handle, as markets wait for the US data releases due today – PCE and initial Claims – and speeches by Fed’s Lacker and Bullard. “We expect EUR/USD to remain in the vicinity of 1.36 on a 1 to 3 mth view and end the year around 1.35. On a 12 mth view we continue to forecast a move to 1.30 but this assumes confirmation of a strengthening in US growth and inflation data”.
EUR/USD levels to consider
As of writing the pair is losing 0.07% at 1.3618 and a breach of 1.3583 (low Jun.24) would target 1.3574 (low Jun.23) en route to 1.3565 (low Jun.20). On the flip side, the initial hurdle lines up at 1.3651 (high Jun.25) followed by 1.3669 (high Jun.9) and finally 1.3672 (200-d MA).